Alignment Healthcare (NASDAQ:ALHC) Releases Quarterly Earnings Results

Alignment Healthcare (NASDAQ:ALHC) announced its earnings results on Tuesday. The company reported ($0.14) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.14), Briefing.com reports. The firm had revenue of $692.43 million for the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The company’s revenue was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.19) EPS. Alignment Healthcare updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

Alignment Healthcare Stock Performance

ALHC traded up $0.08 on Thursday, hitting $11.81. The company’s stock had a trading volume of 922,530 shares, compared to its average volume of 1,022,061. The company’s 50 day simple moving average is $10.67 and its 200-day simple moving average is $8.71. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70. Alignment Healthcare has a 12 month low of $4.46 and a 12 month high of $12.36. The firm has a market cap of $2.26 billion, a P/E ratio of -15.12 and a beta of 1.47.

Wall Street Analyst Weigh In

ALHC has been the topic of several research analyst reports. Robert W. Baird boosted their price objective on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Stifel Nicolaus boosted their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Barclays raised their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday. TD Cowen lifted their price objective on shares of Alignment Healthcare to $10.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and set a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.33.

Insiders Place Their Bets

In other news, CFO Robert Thomas Freeman sold 30,500 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $11.50, for a total transaction of $350,750.00. Following the sale, the chief financial officer now directly owns 164,109 shares in the company, valued at $1,887,253.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Dawn Christine Maroney sold 7,074 shares of Alignment Healthcare stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total transaction of $63,807.48. Following the completion of the sale, the insider now directly owns 1,789,023 shares of the company’s stock, valued at approximately $16,136,987.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Thomas Freeman sold 30,500 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $11.50, for a total value of $350,750.00. Following the completion of the transaction, the chief financial officer now owns 164,109 shares of the company’s stock, valued at $1,887,253.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 314,940 shares of company stock worth $3,487,014 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.